BALTIMORE, MD–Locally-based Shelter Group has sold an affordable housing portfolio to Enterprise Community Investment in Columbia, Md., for an undisclosed price. It is a 43-property, 4,153-unit affordable housing portfolio with 35 properties located in Maryland, seven in Pennsylvania and one in Virginia.

All the properties included in the portfolio contain LIHTC, HAP, or Senior Housing restrictions. Two of the properties were under new construction at the time of the sale.

Jeff Kunitz, executive vice president of CBRE Affordable Housing arranged the sale on the behalf of the Shelter Group.

Enterprise Community Investment also acquired the property management company that has run the Shelter Group's affordable housing portfolio–adding 175 employees to its team.

“We received multiple offers at the top of the market, which allowed us to make a decision based on the non-economic factors that were extremely important to us, according to a prepared statement by Jeff Hettleman, EVP of Shelter Group.

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All the properties included in the portfolio contain LIHTC, HAP, or Senior Housing restrictions. Two of the properties were under new construction at the time of the sale.

Jeff Kunitz, executive vice president of CBRE Affordable Housing arranged the sale on the behalf of the Shelter Group.

Enterprise Community Investment also acquired the property management company that has run the Shelter Group's affordable housing portfolio–adding 175 employees to its team.

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Enterprise Community Investment Buys Affordable Housing Portfolio

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